Bitcoin Coin Days Destroyed Surge Signals Long-Term Holder Activity Amid Institutional Demand
Main Idea
Bitcoin's Coin Days Destroyed (CDD) metric has surged, indicating increased activity by long-term holders, which may signal a persistent bullish trend.
Key Points
1. Bitcoin's price range between $106,000 and $118,000 has triggered a Coin Days Destroyed (CDD) ratio of 0.25.
2. The CDD surge is nearing levels last seen during the 2014 peak and the 2019 market correction, suggesting long-term holders are moving their assets.
3. The metric reflects strategic market activity and may indicate the current bullish trend will continue in the near term.
4. Coin Days Destroyed quantifies economic activity, with one coin held for one day equating to one coin day.
Description
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